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Fair Value (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Summary of Financial Assets or Liabilities Recorded at Fair value on Recurring Basis

The financial assets or liabilities recorded at fair value on a recurring basis are set forth in the table below (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Valuation Technique

Assets:

 

 

 

 

 

 

 

 

   Interest rate swaps (Level 2)

 

$

1,181

 

 

$

10,633

 

 

A

Total assets

 

$

1,181

 

 

$

10,633

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

   Interest rate swaps (Level 2)

 

$

1,561

 

 

$

 

 

A

   Contingent consideration (Level 3)

 

 

750

 

 

 

8,386

 

 

C

Total liabilities

 

$

2,311

 

 

$

8,386

 

 

 

Summary of Changes in Fair Value of the Company's Contingent Consideration

The following table summarizes the changes in fair value of the Company’s contingent consideration (in thousands):

 

Balance at January 1, 2024

 

$

5,331

 

Additions of acquisition earn-out

 

 

200

 

Addition of post-closing equity adjustment feature

 

 

4,750

 

Contingent consideration payments

 

 

(4,156

)

Change in fair value

 

 

2,261

 

Balance at December 31, 2024

 

$

8,386

 

Adjustment to post-closing equity adjustment feature

 

 

(4,000

)

Contingent consideration payments

 

 

(6,370

)

Change in fair value

 

 

2,734

 

Balance at December 31, 2025

 

$

750